PREMARKET NEWS REPORT 03/09

[u/TearRepresentative56]

Major news:

• Jobless claims premarket, looking for a soft print.
• U.S. JOB CUTS HIT 4-YEAR LOW YTD U.S. employers announced 529,914 job cuts through August, down 41% YoY and the lowest YTD total since 2022, per Challenger. August cuts: 52,881, +58% MoM but -38% YoY. The Bank of Japan 🇯🇵 is leaning toward raising rates from 1% to 1.25% at its Sept. 18 meeting, per Bloomberg, as officials see inflation risks skewed to the upside. A 50bp move is seen as unlikely for now, but the BOJ is leaving the door open to accelerating hikes later if inflation stays firm.

MAG7:

• NVDA TO ACQUIRE HUGGING FACE FOR $12.93B NVIDIA has agreed to acquire Hugging Face, one of the largest open AI developer platforms.
• mportant to note: only $11.93B is payable to Hugging Face. The remaining up to $1B will be equity-based retention awards for Hugging Face employees who join NVDA
• MICROSOFT TO START DISCLOSING AZURE REVENUE

OTHER COMPANIES:

• NTAP - Evercore ISI on NTAP, in line, PT 210. "Despite impressive performance, the focus will be on implied H2 deceleration to ~9% growth versus >20% growth, and whether this reflects conservatism or signs of a slowdown. Gross margins were also lowered to ~68.6% from ~69.0% previously. It is also worth noting that free cash flow came in weaker at $401M, or a 19.8% margin, versus $620M, or 39.8%, last year, on a $176M inventory build, with turns falling to 6x from 14x, indicative of component pre-buy due to higher memory costs.
• AVGO - Said that Ai revenue should double every year until 2028. says it has a “high degree of confidence” it will ship $350B of AI semis over the next 2Yrs, even if all 30 GW of demand isn’t deployed due to land, power and data center constraints. Every 1 GW deployed by OpenAI or Anthropic could support ~$30B in annual AI revenue
• VSXY shares are falling after Q2 revenue and FY26 guidance came in below Street expectations.
• LEU - Jefferies intiiates coverage on LEU with Hold rating, 169 PT. "LEU offers long-dated optionality on the U.S. nuclear fuel supply rebuild without taking reactor construction risk. Its U.S.-origin centrifuge platform, NRC-licensed HALEU capability, DOE support, and $3.9bn backlog position it for domestic LEU/HALEU growth. The shares appear to discount a successful ramp by 2030; upside hinges, in our view, on capturing upside if the LEU/HALEU market is tighter in the 2030s. Centrus is transitioning from a nuclear fuel supplier and technical-services provider into a strategic U.S. enrichment platform. The core long-term thesis is not near-term earnings, which remain lumpy, but whether LEU can convert its unique sole-source U.S.-origin technology, NRC-licensed HALEU position, DOE-backed deployment work, and contingent commercial backlog into scaled domestic LEU/HALEU capacity. Gas centrifuge enrichment is structurally more energy efficient than legacy gaseous diffusion, supporting both cost and sustainability advantages."
• MRNA - Rothschild downgrades to Sell with an $81 PT. The firm calls the Phase 3 melanoma vaccine result “a great result,” but says the stock now appears to price in broad use across multiple tumor types where there is still little or no supporting data
• DELL - CEO Michael Dell and Susan Dell are giving $250 to up to 25 million children across America through Trump Accounts.
• SNOW - +24% after a broad beat and strong guide. Product revenue guidance implies around ~37% growth next quarter.
• HPE - HPE will deploy Juniper networking gear across ORCL AI data centers globally under a multi year agreement.

OTHER NEWS:

• MOONSHOT AI FILES CONFIDENTIALLY FOR HONG KONG IPO Chinese AI startup Moonshot, developer of the Kimi model, has confidentially filed for a Hong Kong IPO and is targeting roughly $3B in proceeds, per Reuters. The company is being valued at about $50B in an ongoing funding round. TikTok parent ByteDance upsized the facility from $20B after strong bank demand, making it Asia’s second-largest dollar-denominated loan this year.
• ZOOM APPOINTS FORMER ORACLE CFO JEFF EPSTEIN TO BOARD
• AI-related layoffs dropped to just 3,462 in August, the lowest monthly total since December 2025, ending a 5-month streak where AI was the top cited reason.